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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Repayment or pre-payment of borrowings
Repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by the company.
Financing capital equipment under lease
Financing the cost towards acquisition of capital equipment under existing lease arrangements with Siemens Financial Services Private Limited.
General corporate purposes
Funding general corporate expenses and business operational requirements.
(₹ in Crore)
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Bombay Coated and Special Steels Limited is an Indian steel processing center that converts primary steel coils into value-added customized steel products. The company specializes in precision slitting, cut-to-length processing, shearing, and embossing to manufacture slit coils, blanks, and sheared panels. Its processed steel products cater to multiple manufacturing industries, including home and commercial appliances, automotive components, electrical equipment, ventilation systems, and general engineering. Alongside coil processing, the firm provides logistics coordination and inventory management services to support client supply chains. Originally established as a steel trading enterprise under the name Bombay Steels in the 1980s, the corporate entity was incorporated as a private limited company in December 2019 and later converted into a public limited company in February 2025. The company operates four processing facilities strategically located in Wada and Bhiwandi in Maharashtra, Ghiloth in Rajasthan, and Sri City in Andhra Pradesh, covering an aggregate area of over 42,000 square meters. The firm maintains an authorized service partnership with JSW Steel Coated Products Limited, which supplies the majority of its input steel coils. The company caters to a diversified base of Original Equipment Manufacturers and Original Design Manufacturers across consumer durables, refrigeration, electronics, and industrial sectors, including established brands such as Amber Enterprises, IFB Refrigeration, and Haier Appliances. As of June 30, 2026, the company maintained an aggregate annual installed processing capacity of over 123,000 metric tonnes and employed a workforce of approximately 164 personnel across its operational locations.
The company raised 54.10 crore rupees from six institutional anchor investors at the upper price band of 82 rupees per share, allocating 65,97,500 equity shares. Leading participants included IMAP India Capital Investment Trust's Catalyst New India Fund and LRSD Capital Private Limited, alongside allocations to Aarth AIF Growth Fund, Ekamya Pragati Scheme-I, Amitsg Ventures Fund, and Religo Commodities Ventures Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 24 October 2026, 11:09 AM
Authorized processing partnership with JSW Steel
The company maintains an authorized service partnership with JSW Steel Coated Products, ensuring consistent access to quality steel coils and raw materials.
Multi-location processing infrastructure
With four processing centers situated across Maharashtra, Rajasthan, and Andhra Pradesh, the firm offers efficient regional delivery and just-in-time solutions.
Established OEM and ODM relationships
It serves prominent equipment manufacturers across home appliances, refrigeration, automotive, and electrical engineering, fostering durable commercial partnerships.
Comprehensive precision processing capabilities
The company provides specialized capabilities including slitting, blanking, cut-to-length processing, and embossing tailored to exact customer specifications.
High leverage and outstanding debt covenants
The business carries significant indebtedness which imposes restrictive covenants, although a portion of IPO proceeds will be dedicated to debt reduction.
Reliance on a single primary supplier
A substantial share of raw steel coil requirements is sourced from JSW Steel Coated Products, making operations sensitive to supplier disruptions.
Concentration among major customers
A significant proportion of revenue is generated from top OEM clients, exposing performance to changes in their procurement volumes.
Bombay Coated and Special Steels Limited
2602, Parinee I, 7-A Shah Industrial Estate, Andheri (West), Mumbai, Maharashtra 400053
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Exposure to raw material price volatility and thin margins
Fluctuations in underlying steel prices and cyclical demand trends in consumer durables could affect operational profitability.